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Independent Auditor’s Report

To the members of Munch Pack


For the day ended November 28, 2018

Scope

We have audited the financial statement of Munch Pack as of November 28, 2018. This financial
statement is the responsibility of the Entrep Team's management. Our responsibility is to express an opinion on
this financial statement based on our audit. We conducted our audit in accordance with the Mechanics for
Entrepreneurial Simulation Activity and the policies and procedures required by the College of Business and
Accountancy. Those standards require that we plan and perform the audit to obtain reasonable assurance about
whether the financial statement is free of material misstatement. An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the financial statement. An audit also includes assessing the
accounting principles used and significant estimates made by management, as well as evaluating the overall
financial statement presentation. We believe that our audit of the balance sheet provides a reasonable basis for
our opinion.

Opinion

In our opinion, the accompanying financial statements present fairly, in all material respect of
the Munch pack for the day ended November 28, 2018 in accordance with the Mechanics for Entrepreneurial
Simulation Activity and the policies and procedures required by the College of Business and Accountancy.

Basis for Unqualified opinion

Audit findings:

1. The income statement and owner’s equity is fairly presented


2. The actual inventory count and cash count matches the financial statement they provide.

Jaleesa Kyla Mendoza, CPA

Via loveme Morales, CPA

Hannah Nicole Perez, CPA

Philippines

November 29,2018
SPECIAL AUDIT ENGAGEMENT

Audit Checklists

Audit Engagement Team: Actual Entrep Group:


Jaleesa Kyla C. Mendoza Munch Pack
Via Loveme D. Morales
Hannah Nicole G. Perez

Particulars Feedback Audit Findings


Store Opening 9:00 am They open on time
Store Closing 12:00 pm none
Opening Inventory Count Chicken fingers 63 pcs none
Pizza roll 19 pcs
Cheese stick 48 pcs
Closing Inventory Count Chicken fingers = 0 none
Pizza roll = 0
Cheese stick = 0
Cash Sales Count 1250 Match the sales
Financial Report
Income Statement Completely Provided Fairly presented
Owner's Equity Completely Provided Fairly presented
Attachments:
Sales documents - Matches the sales in Income
Statement
Purchase documents - Matches the cost in COGS

Affirmed by:

Jaleesa Kyla C. Mendoza, CPA

-Auditor

Via Loveme D. Morales, CPA

-Auditor

Hannah Nicole G. Perez, CPA